Consolidated revenues for the quarter up by 14.9% to Rs. 8.3 billion, Operating Profit (excluding FOREX impact) up by 40.6% to Rs.1.6 billion, Net Profit (before FOREX impact) up by 29.3% to Rs. 918.9 million
Mumbai, 22 January 2009: Piramal Healthcare Limited (Piramal Healthcare, earlier Nicholas Piramal India Limited) (NSE: PIRHEALTH, BSE: 500302) today reported third quarter (Q3) results for FY2009.
Total Operating Income on consolidated basis for the quarter ended 31 December 2008 was up by 14.9% to Rs. 8.3 billion over Q3FY08. Without considering foreign exchange related impact, the Operating Profit increased by 40.6% to Rs. 1.6 billion, Operating Profit Margin for the quarter was higher at 19.2% as compared to 15.7% in Q3FY08 and Net Profit was up by 29.3% to Rs. 918.9 million as compared to Rs. 710.7 million in Q3 FY08. Earnings Per Share (EPS) excluding foreign exchange related impact was up by 30.3% to Rs. 4.4 per share as compared to Rs. 3.4 per share for Q3FY08.
The Company has provided for Rs. 351.5 million towards loss on net foreign currency outstanding. As a result, the Operating Profit increased by 2.8% to Rs. 1.2 billion and Operating Profit Margin for the quarter was lower at 15.0% as compared to 16.7% for Q3FY08. Accordingly, Net Profit for the quarter was lower at Rs.598.7 million as compared to Rs.727.6 million and EPS for the quarter was lower at Rs. 2.9 per share as compared to Rs. 3.5 per share for Q3FY08.
During the quarter, Healthcare Solutions (Domestic Formulations) division reported strong growth of 21.9%, with sales of Rs.4.1 billion. Piramal Healthcare grew particularly well in the Cardio-Vascular, Dermatology, Gastro-Intestinal and Respiratory therapy segments. Piramal Healthcare’s market share has increased from 3.7% for December 2007 to 4.26% for December 2008 as per ORG IMS data.
The Company’s Pharma Solutions (Custom Manufacturing) division grew by 3.6% to Rs.2.6 billion during Q3FY09. Pharma Solutions Revenues from facilities in India grew by 45.4% to Rs. 805.5 million, compared to Rs. 554.1 million in Q3FY08.
Piramal Healthcare also continues to expand its footprint in the Diagnostic Services business - namely, Piramal Diagnostic Services Private Limited (earlier known as Wellspring). Revenues from this business were up by 35.1% during the quarter to Rs. 425.2 million as compared to Rs. 314.7 million in Q3FY08.
Mumbai, 22 January 2009: Piramal Healthcare Limited (Piramal Healthcare, earlier Nicholas Piramal India Limited) (NSE: PIRHEALTH, BSE: 500302) today reported third quarter (Q3) results for FY2009.
Total Operating Income on consolidated basis for the quarter ended 31 December 2008 was up by 14.9% to Rs. 8.3 billion over Q3FY08. Without considering foreign exchange related impact, the Operating Profit increased by 40.6% to Rs. 1.6 billion, Operating Profit Margin for the quarter was higher at 19.2% as compared to 15.7% in Q3FY08 and Net Profit was up by 29.3% to Rs. 918.9 million as compared to Rs. 710.7 million in Q3 FY08. Earnings Per Share (EPS) excluding foreign exchange related impact was up by 30.3% to Rs. 4.4 per share as compared to Rs. 3.4 per share for Q3FY08.
The Company has provided for Rs. 351.5 million towards loss on net foreign currency outstanding. As a result, the Operating Profit increased by 2.8% to Rs. 1.2 billion and Operating Profit Margin for the quarter was lower at 15.0% as compared to 16.7% for Q3FY08. Accordingly, Net Profit for the quarter was lower at Rs.598.7 million as compared to Rs.727.6 million and EPS for the quarter was lower at Rs. 2.9 per share as compared to Rs. 3.5 per share for Q3FY08.
During the quarter, Healthcare Solutions (Domestic Formulations) division reported strong growth of 21.9%, with sales of Rs.4.1 billion. Piramal Healthcare grew particularly well in the Cardio-Vascular, Dermatology, Gastro-Intestinal and Respiratory therapy segments. Piramal Healthcare’s market share has increased from 3.7% for December 2007 to 4.26% for December 2008 as per ORG IMS data.
The Company’s Pharma Solutions (Custom Manufacturing) division grew by 3.6% to Rs.2.6 billion during Q3FY09. Pharma Solutions Revenues from facilities in India grew by 45.4% to Rs. 805.5 million, compared to Rs. 554.1 million in Q3FY08.
Piramal Healthcare also continues to expand its footprint in the Diagnostic Services business - namely, Piramal Diagnostic Services Private Limited (earlier known as Wellspring). Revenues from this business were up by 35.1% during the quarter to Rs. 425.2 million as compared to Rs. 314.7 million in Q3FY08.
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